LIMA — As property values have been on the rise in recent years, counties have begun seeing an impact in property tax revenue, an increase county officials say they are working to keep as low as possible for taxpayers.
The state of Ohio mandates that counties reappraise real property values every six years, with those values updated in the third year of that cycle. With that cycle staggered for counties across the state, some counties have already seen the effects of rising property values on tax revenue while others are just now approaching reappraisal or value updates.
Allen County is among those now in the third year of that cycle. According to county auditor Rachael Gilroy, the tentative value updates that have come in show that the overall property valuation in the county is just under $3.48 billion including abated and exempt property values. This does not yet include new construction valuations and it includes agricultural values at 2023 levels. This currently represents a nearly 18 percent increase over 2023 valuations, which totaled just under $2.95 billion. Of the nearly $3.5 billion in valuation, the taxable amount is tentatively valued at just over $2.96 billion.